5001 W Florida Ave #512 · Hemet, CA 92545

$39,900

2 bd · 2.0 ba · 1,392 sqft · Manufactured · 99 Days on market

Manufactured home 55+ age-restricted Built 1973 Good condition $29/sqft · 37% below area Est $64k · 37% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Livability +2.6/5.0
• Appreciation +2.5/10.0
• Schools +2.0/10.0
• Manufactured-home adj. -4.3

Listing remarks

LOCATION! LOCATION! LOCATION! Welcome to a rare opportunity in the desirable 55+ resort community of The Lakes at Hemet West, a luxury golf course neighborhood known for its scenic beauty and vibrant lifestyle. This 2-bedroom, 2-bath mobile home, sits right on the golf course, and offers just under 1,400 square feet of living space. It is full of potential, making it an exceptional value for buyers looking to customize or invest. The spacious floor plan includes a large living room, formal dining area, and a generously sized kitchen with ample storage, along with the convenience of indoor laundry and a walk-in pantry.

Key facts

• Front porch
• Indoor laundry
• Five private lakes

Tags

• INDOOR LAUNDRY
• WALK-IN PANTRY
• FRONT PORCH
• FIVE PRIVATE LAKES
• COMMUNITY EVENTS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 39.3% vs local median 4.4% in Hemet — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 51/100 on livability (#1,056 in CA) — a working-class tenant base; expect higher turnover. Strengths: housing A+; Watch: crime D+, amenities F, commute F.
• Hemet Unified (suburban): math 19% / reading 41% proficiency, ranked #360 of 517 in CA (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Harmony Elementary (684 students, 84% FRL); Diamond Valley Middle (math 10% / reading 10%, grade F, #474 of 498 statewide, top 99%, 1,078 students, 91% FRL); West Valley High (math 18% / reading 40%, grade F, #770 of 1,170 statewide, top 66%, 1,898 students, 88% FRL) — zoned schools average 88% FRL vs 66% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.7%/yr); 330 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 43d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• This rent runs 33% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 3→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.35% ✓
• Cap rate: 39.28%
• Cash-on-cash: 117.81%
• DSCR: 6.24
• GRM: 1.9

CMA / ARV

• ARV (median comp): $63,500
• List price: $39,900
• Delta: -37.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5001 W Florida #480	0.06mi	2/2.0	1,440 (+3%)	1mo	$65,000	$45	90
5001 W Florida #171	0.06mi	2/2.0	1,440 (+3%)	2mo	$67,000	$47	89
5001 FLORIDA #311	0.06mi	2/2.0	1,440 (+3%)	3mo	$73,990	$51	89
5001 W Florida Ave #305	0.06mi	2/2.0	1,440 (+3%)	4mo	$91,000	$63	88
5001 W Florida #464	0.06mi	2/2.0	1,464 (+5%)	1mo	$40,000	$27	88
5001 W Florida #661	0.06mi	2/2.0	1,440 (+3%)	5mo	$97,000	$67	88
5001 W Florida #618	0.06mi	2/2.0	1,344 (-3%)	5mo	$70,000	$52	87
5001 W Florida Ave W #728	0.06mi	2/2.0	1,344 (-3%)	5mo	$56,000	$42	87
5001 W Florida Ave #482	0.06mi	2/2.0	1,440 (+3%)	6mo	$55,000	$38	86
5001 W Florida #524	0.06mi	2/2.0	1,488 (+7%)	5mo	$62,000	$42	82
5001 W Florida Ave #122	0.15mi	2/2.0	1,296 (-7%)	2mo	$52,500	$41	80
5001 W Florida #362	0.06mi	2/2.0	1,560 (+12%)	0mo	$39,000	$25	77

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.74% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.79×
• Total profit: $64,722
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 14.59×
• Total profit: $151,847
• Equity at exit: $3,450

Cash invested: $11,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 36 active · 12 under contract
• Months of supply: 14.4 mo (7%/mo absorbed)
• Median asking: $68,500 ($56/sqft)
• Median days on market: 73 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -19.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 92545

• Home prices YoY: -24.6%
• Rents YoY: 3.7%
• Active inventory: 330
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,737 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $1,097

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 32%

Sensitivity live

Price	-10% $1,124	-5% $1,111	+0% $1,097	+5% $1,083	+10% $1,069
Rent	-10% $960	-5% $1,028	+0% $1,097	+5% $1,165	+10% $1,234
Rate	-1.0pp $1,117	-0.5pp $1,107	base $1,097	+0.5pp $1,086	+1.0pp $1,076

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $9,975
• Closing costs: $1,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5001 W Florida Ave #129 Hemet, CA	2.0	2.0	1344	$2,500	$1.86	19d	1	0.06mi
4400 W Florida Ave Spc 26 Hemet, CA	3.0	2.0	1193	$1,699	$1.42	64d	1	0.60mi
4400 W Florida Ave Unit 86 Hemet, CA	3.0	2.0	1310	$1,800	$1.37	93d	1	0.63mi
3800 W Devonshire Ave Hemet, CA	3.0	1.0–2.0	816	$2,137	$2.62	2d	6	1.16mi
3030 W Acacia Ave Hemet, CA	1.0–2.0	1.0–2.0	807	$1,850	$2.29	2d	4	1.32mi
2971 Pembroke Ave Hemet, CA	3.0	2.0	1572	$3,000	$1.91	67d	1	1.33mi
1424 Rabbit Peak Way Hemet, CA	3.0	2.0	1400	$2,600	$1.86	17d	1	1.38mi
470 Westminster Pl Unit D Hemet, CA	3.0	2.0	1024	$1,850	$1.81	43d	1	1.47mi
3471 Dublin Ct Hemet, CA	3.0	2.0	1276	$2,895	$2.27	53d	1	1.48mi

Property features AI

Finance

• Other: Manager approval required for park residencyPets allowed with size limit
• Financial info: Land lease: $1,185 per month
• HOA & community: Senior communityPark name: The Lakes at Hemet WestMonthly land lease

Exterior

• Parking: Covered parkingAttached carport
• Security: Gated community with attendantGuardedCarbon monoxide detector(s)Smoke detector(s)
• Utilities: Private waterPrivate sewer
• Home design: Manufactured/mobile home (24' x 58') — mobile home remainsSingle storyEntry level 1
• Construction: Property listed as fixer conditionTotal stories: 1
• Exterior features: Community in-ground poolOn golf courseCorner lotCommunity lakeCommunity fishingDog parkStreet lighting

Interior

• Kitchen: Gas cooktopGas ovenMicrowaveRefrigeratorRange hoodWalk-in pantryWater heater unit
• Bedrooms: Primary bedroom
• Bathrooms: Two full bathroomsBathtub and shower (shower in tub)
• Heating & cooling: Cooling present (see remarks)
• Interior features: One-level homeEntry through carport doorGuarded community with gated attendantCarbon monoxide and smoke detectorsCommunity in-ground heated spa
• Laundry & utility: Inside laundryWasher and dryer includedWasher hookupGas dryer hookup

Listing history 43 events

1. 2026-07-23
   days on market $39,900 Active 99 DOM
2. 2026-07-22
   days on market $39,900 Active 98 DOM
3. 2026-07-21
   days on market $39,900 Active 97 DOM
4. 2026-07-20
   days on market $39,900 Active 96 DOM
5. 2026-07-18
   days on market $39,900 Active 94 DOM
6. 2026-07-18
   days on market $39,900 Active 93 DOM
7. 2026-07-16
   days on market $39,900 Active 92 DOM
8. 2026-07-15
   days on market $39,900 Active 91 DOM
9. 2026-07-14
   days on market $39,900 Active 90 DOM
10. 2026-07-13
    days on market $39,900 Active 89 DOM
11. 2026-07-13
    days on market $39,900 Active 88 DOM
12. 2026-07-11
    days on market $39,900 Active 87 DOM
13. 2026-07-10
    days on market $39,900 Active 86 DOM
14. 2026-07-09
    days on market $39,900 Active 85 DOM
15. 2026-07-07
    days on market $39,900 Active 83 DOM
16. 2026-07-06
    days on market $39,900 Active 82 DOM
17. 2026-07-06
    days on market $39,900 Active 81 DOM
18. 2026-07-05
    days on market $39,900 Active 80 DOM
19. 2026-07-03
    days on market $39,900 Active 79 DOM
20. 2026-07-02
    days on market $39,900 Active 78 DOM
21. 2026-07-01
    days on market $39,900 Active 77 DOM
22. 2026-06-30
    days on market $39,900 Active 76 DOM
23. 2026-06-29
    days on market $39,900 Active 75 DOM
24. 2026-06-28
    days on market $39,900 Active 74 DOM
25. 2026-06-27
    days on market $39,900 Active 73 DOM
26. 2026-06-26
    days on market $39,900 Active 72 DOM
27. 2026-06-24
    days on market $39,900 Active 70 DOM
28. 2026-06-22
    days on market $39,900 Active 68 DOM
29. 2026-06-21
    days on market $39,900 Active 67 DOM
30. 2026-06-18
    days on market $39,900 Active 64 DOM
31. 2026-06-17
    days on market $39,900 Active 63 DOM
32. 2026-06-16
    days on market $39,900 Active 62 DOM
33. 2026-06-15
    days on market $39,900 Active 61 DOM
34. 2026-06-13
    days on market $39,900 Active 59 DOM
35. 2026-06-09
    days on market $39,900 Active 55 DOM
36. 2026-06-08
    days on market $39,900 Active 54 DOM
37. 2026-06-07
    days on market $39,900 Active 53 DOM
38. 2026-06-04
    days on market $39,900 Active 50 DOM
39. 2026-06-03
    days on market $39,900 Active 49 DOM
40. 2026-06-02
    days on market $39,900 Active 48 DOM
41. 2026-06-01
    days on market $39,900 Active 47 DOM
42. 2026-05-31
    days on market $39,900 Active 46 DOM
43. 2026-04-15
    listed $39,900 Active 1770-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 3 d/yr ≥105°F today · 9 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,849
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$1,161
• Taxable income: $13,320
• Est. tax owed @ 24.0%: −$3,197
• After-tax cash flow: $9,965/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $6,960–$20,880 screening

This mobile home is in good condition with a good roof and exterior. It has a good floor plan and fresh paint. Minor exterior painting and landscaping maintenance would enhance its curb appeal and rental value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint enhances curb appeal ↑
• Rental Trim and mulch landscaping — Well-maintained landscaping improves curb appeal and tenant satisfaction ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 20/100

Zoned Schools

Elementary Harmony Elementary Middle Diamond Valley Middle F CA #474/498 Nat'l #13,307/14,009 High West Valley High F CA #770/1,170 Nat'l #11,621/17,239

Schools (NCES district)

• District: Hemet Unified
• NCES district ID: 0616920
• Math proficiency: 19% ▼ -3.00%
• Reading proficiency: 41% ▲ 4.00%
• Median HH income: $39,962
• Composite: 25.16/100
• National rank: #7517
• State rank: #360 of 517 in CA

D Composite livability gradescore 51/100

Livability — Hemet

• Score: 51/100
• State rank: #1056
• US rank: #25208

Category grades

Amenities F Commute F Cost of living F Crime D+ Employment F Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hemet, CA
• County: Riverside County · 2,664,475 people
• City population: 137,670
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 45,982
• Household income: $63,770
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 12% of renters

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Population outlook (Riverside County) Hauer SSP2

• Today (2025): 2,664,475 people
• By 2030: 2,802,692 · +5.2%
• By 2040: 3,050,904 · +14.5%
• By 2050: 3,256,783 · +22.2%
• By 2075: 3,655,058 · +37.2%
• By 2100: 3,766,594 · +41.4%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 46% White 35% Two or more races 17% Black 8% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Slovak 2% Lithuanian 2% Portuguese 1%
• Foreign-born: 19% · Canada, Vietnam, Jamaica
• Languages at home: 69% English-only · Spanish 27% Tagalog/Filipino 1% Other Indo-European 1%

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Political lean MEDSL · Riverside

• 2024 margin: Toss-up / Even · D 48.0% · R 49.3% · Other 2.6%
• 2008→2024 swing: -3.6pp toward R · 2008: 2.3pp · 2024: -1.3pp
• All cycles: 2024: R+1.3 2020: D+8.0 2016: D+4.3 2012: R+0.4 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.25%
• Current HPI: 356.9414
• Rent YoY: ▲ 3.74%
• Metro: Riverside-San Bernardino-Ontario, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

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Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Property features AI

Finance

• Other: Manager approval required for park residencyPets allowed with size limit
• Financial info: Land lease: $1,185 per month
• HOA & community: Senior communityPark name: The Lakes at Hemet WestMonthly land lease

Exterior

• Parking: Covered parkingAttached carport
• Security: Gated community with attendantGuardedCarbon monoxide detector(s)Smoke detector(s)
• Utilities: Private waterPrivate sewer
• Home design: Manufactured/mobile home (24' x 58') — mobile home remainsSingle storyEntry level 1
• Construction: Property listed as fixer conditionTotal stories: 1
• Exterior features: Community in-ground poolOn golf courseCorner lotCommunity lakeCommunity fishingDog parkStreet lighting

Interior

• Kitchen: Gas cooktopGas ovenMicrowaveRefrigeratorRange hoodWalk-in pantryWater heater unit
• Bedrooms: Primary bedroom
• Bathrooms: Two full bathroomsBathtub and shower (shower in tub)
• Heating & cooling: Cooling present (see remarks)
• Interior features: One-level homeEntry through carport doorGuarded community with gated attendantCarbon monoxide and smoke detectorsCommunity in-ground heated spa
• Laundry & utility: Inside laundryWasher and dryer includedWasher hookupGas dryer hookup

Price history

1 event — show timeline

• 2026-04-15 Listed $39,900 CRMLS